英文版国际金融试题和答案[1]

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1、PartⅠ.Decidewhethereachofthefollowingstatementsistrueorfalse(10%)每题1分，答错不扣分1.Ifperfectmarketsexisted,resourceswouldbemoremobileandcouldthereforebetransferredtothosecountriesmorewillingtopayahighpriceforthem.(T)2.Theforwardcontractcanhedgefuturereceivablesorpayablesin

2、foreigncurrenciestoinsulatethefirmagainstexchangeraterisk.(T)3.Theprimaryobjectiveofthemultinationalcorporationisstillthesameprimaryobjectiveofanyfirm,i.e.,tomaximizeshareholderwealth.(T)4.Alowinflationratetendstoincreaseimportsanddecreaseexports,therebydecreasingthe

3、currentaccountdeficit,otherthingsequal.(F)5.Acapitalaccountdeficitreflectsanetsaleofthehomecurrencyinexchangeforothercurrencies.Thisplacesupwardpressureonthathomecurrency’svalue.(F)6.Thetheoryofcomparativeadvantageimpliesthatcountriesshouldspecializeinproduction,ther

4、ebyrelyingonothercountriesforsomeproducts.(T)7.Coveredinterestarbitrageisplausiblewhentheforwardpremiumreflecttheinterestratedifferentialbetweentwocountriesspecifiedbytheinterestrateparityformula. (F)8．Thetotalimpactoftransactionexposureisontheoverallvalueofthefirm.(

5、F)9.Aputoptionisanoptiontosell-bythebuyeroftheoption-astatednumberofunitsoftheunderlyinginstrumentataspecifiedpriceperunitduringaspecifiedperiod.(T)10.Futuresmustbemarked-to-market.Optionsarenot.(T)PartⅡ:Cloze(20%)每题2分，答错不扣分1.Ifinflationinaforeigncountrydiffersfromin

6、flationinthehomecountry,theexchangeratewilladjusttomaintainequal(purchasingpower）2.Speculatorswhoexpectacurrencyto(appreciate)couldpurchasecurrencyfuturescontractsforthatcurrency. 3.Coveredinterestarbitrageinvolvestheshortterminvestmentinaforeigncurrencythatiscovere

7、dbya(forwardcontract)tosellthatcurrencywhentheinvestmentmatures. 4.（Appreciation/Revalue）ofRMBreducesinflowssincetheforeigndemandforourgoodsisreducedandforeigncompetitionisincreased.5.(PPP)suggestsarelationshipbetweentheinflationdifferentialoftwocountriesandthepercen

8、tagechangeinthespotexchangerateovertime. 6.IFEisbasedonnominalinterestrate(differentials),whichareinfluencedbyexpectedinflation.7.T